Sarasota, FL — (PRESS RELEASE JET) — 10/25/2017 — Nickel Sulfate Market: Overview
There are in all seven types of Ni (II) salts present in the market that is being used in several applications. Nickel sulfate is prepared and synthesized as a by-product in the copper refining process. Nickel sulfate can also be prepared by the dissolution of the nickel oxide & nickel metal in sulfuric acid.
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Nickel Sulfate Market: Facts
BHP Billiton’s nickel department has plans to build the world’s biggest nickel sulfate plant. It is looking up to tap into new game-changing opportunities in the electric vehicle sector.
Nickel Sulfate Market: Segmentation
The global market for the nickel sulfate is fragmented into its grade, form, and application. Based on the grade, the global market is segregated into EN grade, plating grade, and high-purity grade. Based on the form, the market is categorized into anhydrous, heptahydrate, and hexahydrate. Based on the application, the market is divided into battery, electroplating, chemicals industry, and others.
Nickel Sulfate Market: Growth Factors
In the past years, there has been a significant growth in the consumption of the nickel sulfate which will be retained in the coming years. This significant demand is owing to its increased application in the various industrial domains. The key factor that is influencing the growth of the market is the shift towards the electric sources from the oil and gas particularly in the automotive sectors has increased the consumption of the nickel sulfate. The growth in the sales of the electric & hybrid vehicles has fuelled the growth of the market. Another factor that is triggering the growth of the nickel sulfate market is the rise in the battery and electroplating applications. The market players are increasing their manufacturing capabilities in order to satisfy the increasing demand from the end-user industries. They are also collaborating with the local vendors in order to have a good supply chain thus propelling the market to grow. The factors that are limiting the growth of the market are occurrences of the chronic diseases and the health hazards due to the handling of the compounds.
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Nickel Sulfate Market: Regional Analysis
The developed regions that will be experiencing a strong growth in the nickel sulfate market in the coming years are Western Europe and North America which is due to the development of the chemical and the automotive sectors. The regions such as Asia Pacific and Latin America will also experience a robust market growth owing to the increased demand for the nickel sulfate in the synthesis of the new products that will be used in the batteries during the process of electroplating. In the Asia Pacific region, there are favorable government policies that are increasing the interests of the overseas market players to make investments in this region for developing their manufacturing facilities. The emerging economies such as India, China, and South Korea are witnessing a significant development in their chemical industry.
Nickel Sulfate Market: Competitive Players
The key market players that are involved in the nickel sulfate market include Norilsk Nickel, Green Eco-Manufacturer, Jilin Jien Nickel Industry, Jinco Nonferrous, Nicomet, Coremax, Umicore, Sumitomo Metal Mining Co., Ltd., Huaze Cobalt & Nickel, Seido Chemical Industry Co., Ltd., Univertical, and Zenith.
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Nickel Sulfate Market: Regional Segment Analysis
Middle East and Africa
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